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Who controls the Bitcoin network?

October 8, 2019

There is no doubt that Bitcoin is the most relevant crypto currency in the market, despite the ups and downs it has gone through. This is something that many investors know; so much so that many have important investments, which give them great power over the currency. So who controls the Bitcoin network is directly related to such individuals.

That is why, if you want to start making inroads into this market, it is useful to know about those who have great power over it, as well as the importance they imply for the market.

Someone could control the most important crypto currency: Who controls the Bitcoin network?

As it is well known, Bitcoin is governed by a decentralized system; that is why, its quotation and operation in general, is closely related to the traffic of users, miners, investors, among others.

However, to have control over this cryptodivisa, is something relatively simple; this because, it would only be necessary to have a sufficiently big investment for it. This is what various investors, who own a considerable amount of tokens, have noticed.

Now, to know who controls the Bitcoin network, it is useful to know about the following investors:

  • Roger View
    It is considered who controls the Bitcoin network, due to its numerous investments in crypto currency, which are estimated at more than 52 million U.S. dollars. It is worth mentioning that he was one of the first investors in Bit Instant; in addition, he is related to an extensive variety of projects related to crypto currencies.
  • Barry Silbert
    Founder of Digital Currency Group, known for being one of the most relevant venture capital companies. Barry Silbert is one of the most loyal followers of cryptodynamics; so much so that he is known as one of the most relevant advocates.

Indeed, Silbert also handles a considerable number of tokens, the exact number of which is unknown. However, he is presumed to have purchased 48,000 Bitcoins during a U.S. government auction in 2016.

  • Tony Gallippi
    He is the president and co-founder of Bitpay, he is considered one of the most important individuals in the Bitcoin network; the reason for this is that he has large investments in cryptodivisa.

However, the exact number of tokens he handles is not officially available. Even so, Gallippi is estimated to be part of who controls Bitcoin; this is because different estimates claim that it could have up to US$20,000,000 invested.

  • Satoshi Nakamoto
    Considered as the one who controls the Bitcoin network; the famous pseudonym attributed to the creator (or creators) of Bitcoin, is the main owner of Bitcoin and not precisely for being its founder. The truth is, Nakamoto has 1,000,000 Bitcoins in his possession, which is much more than other investors have.

It is worth mentioning that different sources estimate that the amount of bitcoins owned by Nakamoto is more than 2 million tokens. However, the confirmed figure is the one mentioned above.

Who controls the Bitcoin network could lose its power?
As has been made clear, who controls the Bitcoin network is not just one person, but a group of investors who own a large part of the tokens. However, it is possible that those who control the Bitcoin network will lose their power; this is due to the fact that, if they abandoned their investment, they would no longer consider themselves as the owners of Bitcoin.

However, this is a much more than unlikely scenario, as it has already been proven on several occasions that Bitcoin is an excellent asset to invest in. Therefore, those who own many tokens will probably not sell them, but will buy more.